Larissa Waters

That's when those property investor tax breaks came in.

And if you look at the graph, house prices and wages are kind of doing this and those property investor tax breaks get introduced and house prices go up.

and wages flat.

So that is what happened 20 years ago.

And this housing crisis has been created by those unfair tax perks that this government has just decided to keep in place for everyone that's already got them and to just pull the ladder up for anyone to come.

It's so heartbreaking.

So they've got the right idea about pulling the ladder up if they take it away, but instead they're baking it in.

That's right.

The ladder's gone.

That's right.

Which is just absolutely insanity.

It's fucking nuts.

suddenly now that is not the reality it's the same as no so if you sell your business under the current tax rules you'd have to pay tax on half the profit that you make if you are not able to use an exemption and there's a quite a lot of those whether it's your your profit threshold whether it's how long you've held the business for so there's already a stack of exemptions and none of those are changing so probably most small businesses will still not be affected by these changes

But there's going to be a change whereby rather than automatically just getting to keep half of it and not pay tax on it, you will pay tax on the amount of profit that you made after you've adjusted for inflation.

So the, you know, the real increase, if you like.

Now, some models say that will mean you pay a bit more tax.

Some models say that will mean you pay a bit less tax.

So there is a lot of confusion about is this going to be good or bad?

Fundamentally, many of those small businesses will be exempt anyway.

But this is why we're going to have a Senate inquiry to look at and to try to understand the real impact of those changes.